Gemini To Exit UK, EU, and Australia To Focus on Business in US

Crypto exchange Gemini announced its exit from the United Kingdom, European Union and Australia markets on Thursday, as the company slashed its workforce by 25%.

Gemini cited artificial intelligence automating labor and making engineers “100x” more efficient, and a more challenging business environment in the UK, EU and Australia, as reasons for the exit, according to Thursday’s announcement:

“These foreign markets have proven hard to win in for various reasons, and we find ourselves stretched…